Sorainen assisted the Lithuanian Ministry of Finance in drafting the Securitisation and covered bond law. The purpose of the law will be to contribute to Lithuanian capital market development and expand financing source options. The new draft law ensures greater opportunities for financial institutions to attract funds and finance business, thus contributing to long-term economic […]
Sorainen assisted WePower, a blockchain-based green energy trading platform, in obtaining a ground-breaking ruling from the Lithuanian tax authorities confirming favourable VAT treatment for issuance of cryptographic tokens. The Lithuanian tax authorities issued a positive ruling confirming that ICOs are VAT-exempt, thus allowing the client to save up to USD 7 million. WePower raised USD […]
Sorainen represented Meseta in a case involving the 0% VAT rate. The Lithuanian Supreme Administrative Court ruled that tax administrators had unjustifiably imposed EUR 2 million in VAT, fines and interest on Meseta for allegedly unfair application of 0% VAT rates. The Court declared that the State Tax Inspectorate and other institutions that examined the […]
Sorainen assisted Intelligent Communications, developer of the ‘Trafi’ mobile application, a prominent Lithuanian start-up and leading IT and e-solution provider and a Norwegian company specialising in electronic manufacturing services and operating in Sweden, Lithuania, Germany, China and USA with more than 1,350 highly skilled employees. Sorainen tax specialists advised several clients in structuring employee share […]
Sorainen assisted Fauga, Viking Industrier and Byggleverandorene to appeal binding rulings on the transfer of losses in cross-border situations. The Supreme Administrative Court adopted a favourable decision, confirming that binding rulings have legal consequences to a taxpayer, even though under the legal acts they are only binding to the tax authority and not a specific […]
